Previously high-flying fintech companies have seen their valuations get slashed during the ongoing market correction. Stocks are now trading at pre-pandemic levels, although many of them have grown their businesses in the two years since the pandemic started.
There is no denying that the future of finance will be digital, and that many of these great companies are what we refer to as babies getting thrown out with the bathwater. It’s a bit of a crude saying but it implies that as the market tide flows out as it is currently doing, all boats are lowered, even great companies.
Warren Buffett tells us to be greedy when others are fearful, and market sentiment couldn’t be anymore bearish on fintech stocks right now. Companies like Block (NYSE:SQ), PayPal (NASDAQ:PYPL), and SoFi (NASDAQ:SOFI) are all presenting strong buying opportunities given the trajectory of the industry over the next few decades.
Emerging companies like iQSTEL (OTC:IQST) and StoneCo (NASDAQ:STNE) also look like high growth opportunities for the future. iQSTEL in particular is a well diversified technology company that has divisions in telecom, IoT, electric vehicles, and of course, fintech. The company is even aiming for a potential NASDAQ uplisting in the next year or two, so keep this high flying stock on your radar for when the market begins to turn.
$SQ $PYPL $SOFI $STNE $IQST
$IQST – iQSTEL
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